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Why Are Wells Fargo Shares Dropping Today?

Wells Fargo & Co. (NYSE: WFC) is trading down on Wednesday, owing to persistent weakness, according to Bloomberg, which stated that the business may face regulatory action over the pace with which it is making reparation payments.
Why Are Wells Fargo Shares Dropping Today?

Wells Fargo & Co. (NYSE: WFC) is trading down on Wednesday, owing to persistent weakness, according to Bloomberg, which stated that the business may face regulatory action over the pace with which it is making reparation payments.

Regulators, according to sources, are still dissatisfied with Wells Fargo's progress in paying victims and strengthening controls after five years of scandals that have cost the bank more than $5 billion in fines and lawsuit settlements.

Wells Fargo has joined AutoFi's North American network of automotive lenders to provide fast and easy online sales and financing to automobile consumers and dealers.